LONDON (Reuters) – Investors managing around $20 trillion in assets on Tuesday called on the heaviest corporate emitters of greenhouse gases to set science-based targets on the way to net zero carbon emissions by mid-century.
AXA Group and Nikko Asset Management Co are among 137 investors urging 1,800 companies responsible for a quarter of global emissions to act, coordinated by non-profit group CDP.
While more companies are pledging their support for the 2015 Paris agreement on climate change, aiming to be carbon neutral by 2050, not all have been clear about how they will get there.
To help limit global warming to no more than 1.5 degrees Celsius above pre-industrial norms by 2050, companies need to set out their pathway to net zero and ensure it is consistent with the science and independently verified, the investors said.
“Climate change presents material risks to investments, and companies that are failing to